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The Capri Family Foundation has successfully completed its tender offer to acquire 941,942 ordinary shares of Optibase Ltd. (NASDAQ: OBAS) at $12.64 per share. The offer, which began on February 15, 2022, and expired on March 22, 2022, saw 768,905 shares validly tendered. Consequently, Capri now holds all Optibase shares, which will be delisted from NASDAQ and the Tel Aviv Stock Exchange. Capri plans to terminate the registration of these shares under the U.S. Securities Exchange Act, ceasing all reporting obligations for Optibase.
Optibase Ltd. (NASDAQ: OBAS) announced the sale of three apartments and two penthouses in Miami, Florida, generating approximately $8 million between November 2021 and March 2022. The sales achieved an average price of $460 per square foot for apartments and $990 per square foot for penthouses. Following the final sale on March 9, 2022, the company repaid its loan associated with the condominium units. Optibase expects a combined gain of about $1.6 million in its financial statements for Q4 2021 and Q1 2022 due to these transactions.
Capri Family Foundation has updated its tender offer to acquire 941,942 ordinary shares of Optibase Ltd. (Nasdaq: OBAS) with an increased offer price of $12.64 per share, valid until 10:00 a.m. New York time on March 22, 2022. The financial advisor, MNS Consulting, confirmed that this offer price is fair for non-affiliated Optibase shareholders. The offer is detailed in the Tender Offer Statement filed with the SEC and the Israel Securities Authority. Shareholders are encouraged to review all materials related to the tender offer.
Capri Family Foundation announced an updated fairness opinion from MNS Consulting regarding its tender offer for Optibase Ltd. (Nasdaq: OBAS). The offer, which commenced on February 15, 2022, increased to $12.64 per share as of February 18, 2022. MNS Consulting deemed this price fair for non-affiliated shareholders. The tender offer expiration has been extended to March 22, 2022. Shareholders are encouraged to review the tender offer materials available on the SEC and ISA websites for detailed information.
The Capri Family Foundation has raised its offer price for acquiring 941,942 ordinary shares of Optibase Ltd. (Nasdaq: OBAS) to $12.64 per share, a 7.6% increase over the last closing price on February 14, 2022. This new offer also reflects a 9.0% rise from the initial price of $11.60. The tender offer is set to expire on March 17, 2022, at 10:00 a.m. New York time. Shareholders are advised to review all tender offer materials filed with the SEC and ISA for crucial information regarding the offer.
Optibase Ltd. (NASDAQ: OBAS) announced it received an unsolicited tender offer from The Capri Family Foundation and Shlomo Wyler to acquire 941,942 ordinary shares at $11.60 each. This follows a previous offer made on December 1, 2021, at $11.20, which expired without meeting the minimum condition. The Company plans to file a Solicitation/Recommendation Statement on or before March 1, 2022, to advise shareholders on the current offer. Shareholders are urged to wait for this statement before making decisions regarding the offer.
The Capri Family Foundation announced a cash tender offer to purchase 941,942 shares of Optibase Ltd. (Nasdaq: OBAS) at $11.60 per share. Capri currently holds approximately 81.9% of Optibase's shares. This offer, set to expire on March 17, 2022, is lower than the closing price of $11.75 on February 14, 2022. A previous offer to buy shares at $11.20 in December 2021 did not meet the minimum condition. The tender offer is not contingent on financing or board approval and includes important tax considerations for shareholders.
Optibase Ltd. (NASDAQ: OBAS) has announced its decision to delist its ordinary shares from the Tel Aviv Stock Exchange (TASE), effective at least three months from January 11, 2022. The delisting is subject to TASE approval, with a target date of April 13, 2022. This move follows minimal trading volume on TASE since its listing in April 2015, with most transactions occurring on the Nasdaq. The company aims to simplify operations, having fully repaid its bonds traded on TASE as of December 29, 2021.
Optibase continues to focus on fixed-income real estate investments in various locations, including Switzerland and the U.S.
The Capri Family Foundation announced the results of its cash tender offer to purchase 959,837 ordinary shares of Optibase Ltd. (Nasdaq: OBAS) at $11.20 per share. The offer, which started on December 1, 2021, ended on December 30, 2021, and a total of 689,926 shares were validly tendered. However, the minimum requirement of 699,025 shares was not met, resulting in none of the tendered shares being accepted. Capri is now considering strategic alternatives regarding its investment in Optibase, including the possibility of initiating another tender offer.
Optibase Ltd. (NASDAQ: OBAS) has received an unsolicited tender offer from The Capri Family Foundation and Shlomo (Tom) Wyler to purchase 959,837 outstanding ordinary shares at $11.20 per share. The company will file a Solicitation/Recommendation Statement with the SEC by December 14, 2021, to advise shareholders on its position regarding the offer. Shareholders are advised to wait for this statement before deciding on the offer. Additional information will be available on the company's website and through SEC filings.
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